trump

Trump Mocks Goldman Sachs CEO David Solomon: “Maybe He Ought to Just Focus on Being a DJ”

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Former President Donald Trump took aim at Goldman Sachs CEO David Solomon on Tuesday, poking fun at his side gig as a DJ while blasting the bank’s past economic forecasts.

“David Solomon and Goldman Sachs refuse to give credit where credit is due,” Trump wrote on Truth Social. “They made a bad prediction a long time ago on both the Market repercussion and the Tariffs themselves, and they were wrong, just like they are wrong about so much else.”

Inflation Numbers Trigger Trump’s Remarks

Trump’s comments followed the release of the July Consumer Price Index (CPI) report — a key measure of inflation. The Bureau of Labor Statistics reported year-over-year inflation at 2.7%, slightly below analyst forecasts of 2.8%.

The Federal Reserve, led by Chair Jerome Powell, has maintained interest rates while evaluating the inflationary impact of tariffs.

Trump took the latest CPI data as validation of his economic stance:

“It has been proven, that even at this late stage, Tariffs have not caused Inflation, or any other problems for America, other than massive amounts of CASH pouring into our Treasury’s coffers,” he said.

Solomon Joins Growing List of CEO Targets

Solomon is the latest high-profile executive in Trump’s firing line. Just last week, the former president called for Intel CEO Lip-Bu Tan’s resignation — before reversing course after meeting with him at the White House on Monday.

With this latest jab, Trump continues his pattern of publicly challenging corporate leaders, often blending policy criticism with personal ridicule.

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    European Markets Rally as Israel-Iran Ceasefire Holds & Fed Hints at Rate Cuts

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    European Stocks Climb as Ceasefire Holds, Fed Dovish Tone Lifts Sentiment

    Markets held onto their upward momentum Wednesday, with the STOXX 50 and STOXX 600 indices both rising 0.3%, extending gains of over 1% from the previous session. Investors were buoyed by easing geopolitical tensions and growing hopes for a Federal Reserve rate cut later this year.

    🌍 Geopolitical Calm Brings Relief

    The recent ceasefire between Israel and Iran appears to be holding, providing a much-needed breather for global markets. The truce—brokered by the United States—has helped temper fears of a broader conflict in the Middle East, a key concern for global investors in recent weeks.

    📉 Fed Signals Potential Rate Cuts

    Further optimism was driven by Federal Reserve Chair Jerome Powell, who gave testimony before the U.S. Congress on Tuesday. His remarks were widely interpreted as dovish, increasing expectations that the Fed could cut interest rates later this year, providing additional support to financial markets.

    🔍 Focus Shifts to NATO Summit

    Investors are now watching the NATO summit in the Netherlands, where discussions around defense spending and geopolitical stability are taking center stage. Any shifts in policy or alliances could have broader market implications.

    Winners on the European Stock Front

    Several major companies posted strong gains amid the upbeat mood:

    • Ferrari (RACE): +3.6%
    • Stellantis (STLA): +3.7%
    • ASML Holding (ASML): +2.3%
    • Philips (PHG): +2.0%
    • Rheinmetall (RHM): +1.5%

    These moves reflect renewed investor confidence across a range of sectors, from luxury autos to defense and technology.

    Crude Oil Bounces Back After Heavy Selloff

    WTI crude oil prices rebounded above $65 per barrel on Wednesday, recovering some ground after a 13% plunge over the prior two sessions—the steepest two-day fall since 2022.

    🔥 What’s Driving Oil?

    • The ceasefire in the Middle East is reducing supply disruption fears.
    • President Trump signaled support for China—Iran’s top buyer—to continue importing Iranian oil, potentially reshaping the U.S. sanctions landscape.
    • Despite this, a preliminary U.S. intelligence report warned that American strikes on Iranian nuclear facilities only delayed the program by a few months, keeping geopolitical risk on the table.

    📉 Supply Tightens

    Fresh industry data revealed a 4.28 million barrel drop in U.S. crude inventories last week, smashing forecasts for just a 0.6 million barrel draw. This marks the fourth consecutive weekly decline and signals tightening supply conditions.

    🧠 Final Thoughts

    Markets are finding their footing amid complex global dynamics. While the ceasefire and dovish Fed tone provide near-term relief, investors remain cautious as geopolitical risks and inflation pressures continue to shape the global economic outlook.

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